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Nov 19, 2012
11/12
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cliff. that is if the white house and congress don't get their act together first. that means $600 billion in across-the-board spending cuts and tax increases, hitting every single american taxpayer right in the wallet. it's not just us but get hit hard, amid all the uncertainty, companies are scaling back their investment plans. according to "the wall street journal", u.s. companies are cutting their spending plans in the fiscal and economic uncertainty, and doing so at the fastest pace in the a recession. it goes on to say that companies are not planning to spend this year or next year. i am joined by jeffrey miron. welcome back to the show, jeffrey. good to see you. i want to start with some breaking news that we had. moody's just announced that they are cutting france's government rating to aa from triple-a. the s&p data back did it back in january. of course, we mentioned last week that the eurozone is in recession. economies that are expanding and not contracting. is this a winning pos
cliff. that is if the white house and congress don't get their act together first. that means $600 billion in across-the-board spending cuts and tax increases, hitting every single american taxpayer right in the wallet. it's not just us but get hit hard, amid all the uncertainty, companies are scaling back their investment plans. according to "the wall street journal", u.s. companies are cutting their spending plans in the fiscal and economic uncertainty, and doing so at the fastest...
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Oct 1, 2012
10/12
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. >> reporter: and the more imminent threat to the economy may be the so-called fiscal cliff. the ratings agency fitch has said uncertainty about u.s. fiscal policy is the single-biggest near-term threat to the global recovery. >> winston churchill once said that the americans always do the right thing but only after extinguishing every other possibility. that is precisely what the americans are doing here. >> reporter: bremmer believes washington won't go over that cliff, but fixing europe could take years. spain reportedly could request a euro zone bailout as early as next weekend. >> pelley: anthony, thanks very much. those are some of the same questions we put together to one of the most powerful women in the world economy. christine legarde is managing director of the international monetary fund. the i.m.f. is essentially a massive bank set up after world war ii with-to-help countries with international trade. lagarde was a french finance minister. she took over the i.m.f. last summer. at her headquarters in washington today, we asked her why the world economy has been sl
. >> reporter: and the more imminent threat to the economy may be the so-called fiscal cliff. the ratings agency fitch has said uncertainty about u.s. fiscal policy is the single-biggest near-term threat to the global recovery. >> winston churchill once said that the americans always do the right thing but only after extinguishing every other possibility. that is precisely what the americans are doing here. >> reporter: bremmer believes washington won't go over that cliff, but...
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Nov 14, 2012
11/12
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we have been talking and then issue that want to bring a melon is intview which isthe fiscal cliff and what is going on with housing visa the how our ax rates could change. you sta us off. will that be a big issue where you are? what are you telling clients to back >> i reallydo think that it will be a big issue. a giant concern, the uncertainty about what will happen the tax increases. the whole idea that we will lose that cap on a long-term capital gains will drive away, particularly a lot of investors. and they have relief as a word a lot of the foreclosure properties across thiscountry. it will push us toward a housing recovery. and so we nee those buyers in e market to help keep the stable. i think right now, a susainable reaa estate recovery is an absolute wild card. gerri: do you agree? >> well, i have se a recent uptick in the past weeks as the election of sellers looking to a try to get rid of properties before year-end. gerri: you are seeing more people coming into the market because they're worried about that taxes a going to change? >> that's correct. gerri: how likely is i
we have been talking and then issue that want to bring a melon is intview which isthe fiscal cliff and what is going on with housing visa the how our ax rates could change. you sta us off. will that be a big issue where you are? what are you telling clients to back >> i reallydo think that it will be a big issue. a giant concern, the uncertainty about what will happen the tax increases. the whole idea that we will lose that cap on a long-term capital gains will drive away, particularly a...
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Dec 31, 2012
12/12
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the tax rates went up went over the fiscal cliff wall of the ta rates went up on every single american, we would still have a deficit twice as large as the largest bush deficit. we are spending a trillion more a year than we were five years ago. we have to resolve dhou we continue to spend this money. we can wrap around how we get this spending down no amount of taxation is going to solve the problem. >> why is it there's a reluctance to identify where the spending cuts should go? no one wants to talk about the sacred entitlements but at some point we have to. if we are spending a trillion dollars a year and if the revenues are offset by the spending recommended by the president our grandchildren will be held hostage. >> get everybody back to work. we did not pay for the cost of the war. president bush should have done that. both were declared during his administration. that cost is enormous. huge pay out to health insurance unemployment compensation and so forth because the wholly con me went to pot. of course spending would go up. having responsible legislation is so important. it st
the tax rates went up went over the fiscal cliff wall of the ta rates went up on every single american, we would still have a deficit twice as large as the largest bush deficit. we are spending a trillion more a year than we were five years ago. we have to resolve dhou we continue to spend this money. we can wrap around how we get this spending down no amount of taxation is going to solve the problem. >> why is it there's a reluctance to identify where the spending cuts should go? no one...
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Nov 30, 2012
11/12
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before, they were talking about increasing rates. that was bad enough and now they saves increase rates and get rid of deductions. a huge increase in demand on tax rises. does that concern you? >> absolutely. this is a proposal was brought to the table and on the republican side kind of laughed at and not take it seriously at all. some concern for the market because we are no closer than we were two week ago to any kind of agreement at all and if history has taught us anything with washington d.c. they don't solve anything until it comes to the last minute and all that uncertainty creates a lot of volatility in the market and we're seeing that more and more and will continue to see that for the next 30 days. liz: you to in this out and listen with one ear because you have been long-term bullish. how do you proceed when there is this echo chamber out of washington d.c. about the fiscal cliff? >> what you need to realize is regardless of where they end up, they have reduced standing and high taxes. you get a lot of noise. what i am see
before, they were talking about increasing rates. that was bad enough and now they saves increase rates and get rid of deductions. a huge increase in demand on tax rises. does that concern you? >> absolutely. this is a proposal was brought to the table and on the republican side kind of laughed at and not take it seriously at all. some concern for the market because we are no closer than we were two week ago to any kind of agreement at all and if history has taught us anything with...
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joining me now, theman some democrats blame for the fiscal cliff impasse, grover norquist, president of americans for tax reform. and the many ands a finger to about fixing it, michael reagan, founder of the reagan group. i wantto start with the republicans plan that they put on the table. they have been accused of doing nothing and all. they come up with their own plan which inclus 800 billion in revenue from closing loopholes and eliminating deductions and then 1 billion in spendin cuts. it is being rejected from the get go by democrats. grover, what do you say? >> i think the republicans had a very good pl called lorraine budg. they alloted for it in the house. itsaves $6 trillion over the same decade, and they did not raise taxes and all. i really think of the president is not iterested in compromising, and not sure it is wise with the republicans to keep moving in his direction. i suppos it ge you five minutes on the nightly news to say you are being reasonable, but the president keeps saying he jst wants massive tax increase no spendin cus. he wants to increase spending as part
joining me now, theman some democrats blame for the fiscal cliff impasse, grover norquist, president of americans for tax reform. and the many ands a finger to about fixing it, michael reagan, founder of the reagan group. i wantto start with the republicans plan that they put on the table. they have been accused of doing nothing and all. they come up with their own plan which inclus 800 billion in revenue from closing loopholes and eliminating deductions and then 1 billion in spendin cuts. it...
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Dec 6, 2012
12/12
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president obama saying now a deal to avoid the so-called fiscal cliff could be about a week away. there is just one catch. he says republicans have to accept the, quote: reality as he puts it that tax rates are going up for the richest americans. something g.o.p. leaders are calling a deal breaker. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. we can probably solve this. it's not that tough. but we need that conceptual break through that says we need to do a balanced plan. >> we made a good faith offer to avert the fiscal crisis and that offer included significant spending cuts reforms and it included additional revenue. and frankly, it was a balanced approach mr. president has been asking for. now we need a response from the white house. >> they have 27 days to prevent automatic tax hikes and spending cuts from kicking in on new year's day. ed henry live at the white house for us. ed, we are hearing the president and house speaker john boehner actually talked by phone no
president obama saying now a deal to avoid the so-called fiscal cliff could be about a week away. there is just one catch. he says republicans have to accept the, quote: reality as he puts it that tax rates are going up for the richest americans. something g.o.p. leaders are calling a deal breaker. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. we can probably solve this. it's not...
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more and more voices say, this is going to go over the fiscal cliff at least for a few days in january. >> if we go over the fiscal cliff, voters will likely blame the republicans for that. is is that true sf. >> all of the polls show that right now. we know that the tax hikes go up. ben bernanke, the fed chairman, fears that it will throw the country into a recession. they have to be careful here as well. but democrats and the president clearly believe that they have the leverage to force an increase in these tax rates on the upper income americans before they agree to a deal. >> we'll all be watching the stock market as well. >>> the president also concentrating on recasting his new cabinet and one name that came up yesterday is a replacement for leon panetta at the defense department. >> it's possible, this is a real game of musical chairs right now. the president has to fill at least three big jobs, secretary of state, cia. if the president does not choose susan rice that means kerry goes to state and hagel goes to defense. we just don't know right now. all of those names are in pl
more and more voices say, this is going to go over the fiscal cliff at least for a few days in january. >> if we go over the fiscal cliff, voters will likely blame the republicans for that. is is that true sf. >> all of the polls show that right now. we know that the tax hikes go up. ben bernanke, the fed chairman, fears that it will throw the country into a recession. they have to be careful here as well. but democrats and the president clearly believe that they have the leverage...
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Dec 7, 2012
12/12
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we will see. >> ruth from tell. >> i am in agreement with the fiscal cliff, you are my hero. we. >> robert, e-mail, perfect solution, again you nailed it, neil. >> jay from arizona, to the super hero i am glad someone is coming to the aid of the country. if you want do be a super hero you may want to turn your tall ends to educate the people on economics of country. >> that is what i do as a mortal on this follow show and on fox business network each day, jay every day, without a super her overoutfit. >> and i often watch with my dad and i think you are funny but i wonder, was he an odd kid? you seem like you would have done some odd things? >> well, if you call always worrying about the planet trying to say that the odds, well, guilty. >> kathy from hotmail, i love you, not in a romantic we because you saw it as it is. why not run for budget? i was too busy being a super hero, leaving mere mortals to lead. >> from north carolina, thanks for chewing out congress, and i am thinking of watching "lincoln" rather than fixing the economic problems. any in the of harry reid getting
we will see. >> ruth from tell. >> i am in agreement with the fiscal cliff, you are my hero. we. >> robert, e-mail, perfect solution, again you nailed it, neil. >> jay from arizona, to the super hero i am glad someone is coming to the aid of the country. if you want do be a super hero you may want to turn your tall ends to educate the people on economics of country. >> that is what i do as a mortal on this follow show and on fox business network each day, jay every...
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Jun 29, 2012
06/12
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fiscal cliff and whether it is the effect of sequester, lots of important domestic pro-ams or the effect of changes in tax rates we need to be working over the summer into the fall in a balanced and responsible way to avoid this sud p jolt to our economy that will come if we don't change our current direction. >> neil: and you are right to say and i don't think this is just a democratic or republican issue. i think when push comes to shove people are great at making speeches about we have to get the spending under control but the only deal i see to come in on a weekend or work overtime is for a big old spending bill that might be perfectly within reason and vital as you say but i think you could make a larger grander statement and that applies to both parties if you came in and worked late on a commensurate cut in spending for that new spending but i don't see the deal on either party to do that and i worry about that. i know you call it a slope but i do call it a cliff because with all of the tax rates expiring the end of the year you are facing a casm. >> i think that the uncertainty t
fiscal cliff and whether it is the effect of sequester, lots of important domestic pro-ams or the effect of changes in tax rates we need to be working over the summer into the fall in a balanced and responsible way to avoid this sud p jolt to our economy that will come if we don't change our current direction. >> neil: and you are right to say and i don't think this is just a democratic or republican issue. i think when push comes to shove people are great at making speeches about we have...
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Dec 17, 2012
12/12
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cliff. he did not work with reporters after the face to face session with obama. the key moments came in a phone call friday when they had tax rates for those making $1 million. the white house is pushing tax rates for those making more than 250,000 dollars. the components of a deal according to sources close to boehner is 1 trillion on a cut one in revenue. the legislative process through next year can you included payroll tax cuts and tax extenders. increasing it with president obama wanted it as part of a fiscal cliff deal. it would require cuts and reforms of a greater amount but the white house spokesman didn't get into too many specifics but made a pitch for more tax revenue. >> the president believes in the parameters of potential agreement with clear. it is also the case that we have not seen a proposal besides the presidents that achieved the balance the president exists be part of the deal. >> heritage action are hammering house republicans for negotiating with themselves in public
cliff. he did not work with reporters after the face to face session with obama. the key moments came in a phone call friday when they had tax rates for those making $1 million. the white house is pushing tax rates for those making more than 250,000 dollars. the components of a deal according to sources close to boehner is 1 trillion on a cut one in revenue. the legislative process through next year can you included payroll tax cuts and tax extenders. increasing it with president obama wanted...
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Nov 21, 2012
11/12
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then we thought the fiscal cliff. there going to have to show some kind of movement on medicare. either an increase in net the age, 67, 68, 69, or maybe make it means tested. democrats don't like means tested because they're afraid that will undercut, eventually that will undercut all of medicaid. going to have to have some reductions in medicare, medicaid. and you will have to do something about social security. if you don't do that i don't see how you have accomplished anything. tom: mr. mayor, you know that there is a lot of republicans that are saying i want smaller government, less spending, and tanana reform. don't take my check away from me >> but they have to face reelection in two years. you can read too much into this election. this was not a mandate. this was a popular vote to% election, even electoral votes when he looked at the states, separated by 2%, 3%, 4%. this was not some kind of major reelection when like reagan had, like even clinton had. clinton might think, won by 8%, reagan nine, ten, 11%. there is no real mandate here. so i can't see the republicans getti
then we thought the fiscal cliff. there going to have to show some kind of movement on medicare. either an increase in net the age, 67, 68, 69, or maybe make it means tested. democrats don't like means tested because they're afraid that will undercut, eventually that will undercut all of medicaid. going to have to have some reductions in medicare, medicaid. and you will have to do something about social security. if you don't do that i don't see how you have accomplished anything. tom: mr....
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Dec 1, 2012
12/12
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cliff negotiations, deficit reduction. not hearing specifically about mortgage interest deduction but hearing about closing the loopholes. republicans say this is what's on the table from the white house. raising marginal tax rates on the very rich. extending both the social security payroll tax break and unemployment benefits for next year. the government wants to -- the white house wants to defer the sequester for a year and then launch this new multi-year stimulus package that would be at least $50 billion last year, infrastructure spending. also get this, a permanent increase in the debt limit, and they would take the debt ceiling approval away from congress. robert reich, do you have any problems with all of these things? >> well, most of them are steps in the right direction. i think that actually taking the debt ceiling approval away from congress sounds radical but it really isn't. that's a technicality. you don't want the debt ceiling ever to be negated. you are don't want congress to ever say no because that's th
cliff negotiations, deficit reduction. not hearing specifically about mortgage interest deduction but hearing about closing the loopholes. republicans say this is what's on the table from the white house. raising marginal tax rates on the very rich. extending both the social security payroll tax break and unemployment benefits for next year. the government wants to -- the white house wants to defer the sequester for a year and then launch this new multi-year stimulus package that would be at...
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Jul 20, 2012
07/12
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cliff is increased taxes, and 20% of it is cuts. secondly you have energy prices down and interest rates down. that is cutting into the earnings of physicfinancials an number companies. earning wills only be up as you know 2.7% this year. the consensus is for them to be up next year, and next year down 1% next year, and the consensus is for them to be up another 12%, we're $20 less. $98 is our number for 2013. we want to wish our u.s. olympic team all the best one week from today. the opening ceremony. 2012, go team usa. >> all of the nbc stations will be covering that. tyler over to you. >> let me get your reaction to what david just talked about there. he lays out a high both sit about the markets from now until the end of the year, do you share his view? >> i think we will see a repeat of last year. i think the market will flat line and then muddle through the fall and winter, i don't sigh any reason to be in those stocks, i don't think it will be too positive going forward, that will set the pace for the dollar, you tell me wher
cliff is increased taxes, and 20% of it is cuts. secondly you have energy prices down and interest rates down. that is cutting into the earnings of physicfinancials an number companies. earning wills only be up as you know 2.7% this year. the consensus is for them to be up next year, and next year down 1% next year, and the consensus is for them to be up another 12%, we're $20 less. $98 is our number for 2013. we want to wish our u.s. olympic team all the best one week from today. the opening...
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Nov 30, 2012
11/12
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i am concerned not only about the farming cliff, but the overall fiscal cliff. we need america to come together. we need to create more jobs in america like we have done here in nebraska, as you know. we have 3.8% unemployment rate here in nebraska. i want you to know that i have talk to our farmers and ranchers. they are prepared to take their fair share of budget reductions if it will put america a better economic shape. liz: i know. i know. do you think it will happen? it does not look overall at the moment, governor. >> it does not. the president needs to lead just like the governor's lead in their states. they ought to stay together as long as it takes to develop a framework for a real positive solution to move forward regarding the fiscal challenges we face. the two of them need to sit down, get it worked out and put america first. liz: you governors and what we have learned from delaware and rhode island and pennsylvania and utah, all of you have been so kind to come on the show, is that you cannot wait to have this very delicate ballet dance that they se
i am concerned not only about the farming cliff, but the overall fiscal cliff. we need america to come together. we need to create more jobs in america like we have done here in nebraska, as you know. we have 3.8% unemployment rate here in nebraska. i want you to know that i have talk to our farmers and ranchers. they are prepared to take their fair share of budget reductions if it will put america a better economic shape. liz: i know. i know. do you think it will happen? it does not look...
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Dec 28, 2012
12/12
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going off the fiscal cliff. i think it's hard for republicans to agree to anything that's not an extension above 250, essentially. they need to bring back something to the members to get done. >> sure. again, remember this is a negotiation that's going to happen we hope at 3:00. and, you know, we'll be talking tomorrow about what happened at the meeting if we know, the tone, the tenor. what they agreed to or didn't agree to. and whether we're going to be talking about this, a resolution on new year's eve or what we're going to do once we flip over the cliff. >> we are going over, new year's eve, unbelievable. jonathan, thank you so much for joining us. that does it for this edition of "andrea mitchell reports." craig melvin has a look at what's next. craig, how are you, waiting? >> i was waiting on your exclusive with rg3. >> they won't get it to me because of the injury. i will. >> go skins. >> indeed. >>> live pictures of white house where luke russert mentioned, members expected to arrive within the hour to a
going off the fiscal cliff. i think it's hard for republicans to agree to anything that's not an extension above 250, essentially. they need to bring back something to the members to get done. >> sure. again, remember this is a negotiation that's going to happen we hope at 3:00. and, you know, we'll be talking tomorrow about what happened at the meeting if we know, the tone, the tenor. what they agreed to or didn't agree to. and whether we're going to be talking about this, a resolution...
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Dec 7, 2012
12/12
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in my view fooling around with the debt ceiling is worse than the fiscal cliff. so you're sort of trading one monster for another. i think it would be, again, absolutely nuts to go there. >> peter, what do you think? >> oh, i don't agree. i think that the fiscal cliff and it is a cliff, on january 1 withholding taxes go up to the tune of $400 billion. >> not necessarily. >> it would have a very negative effect on the economy. according to the legislation they would, jared. >> they would not. >> jared, you have to -- >> let me make a point. the treasury secretary can decide if he or she believes a deal sl imminent not to adjust withholding tables. very important. >> i'm talking about no deal and we go off the cliff. >> we go off and stay off. >> it's $400 billion. we have a lot of things to do with regard to our debt ceiling, and my feeling is no one really believes the united states of america is going to default on its debt even if it lapses. we're dealing with different things. one is real and substantive and the other is psychological. >> i really disagree. >>
in my view fooling around with the debt ceiling is worse than the fiscal cliff. so you're sort of trading one monster for another. i think it would be, again, absolutely nuts to go there. >> peter, what do you think? >> oh, i don't agree. i think that the fiscal cliff and it is a cliff, on january 1 withholding taxes go up to the tune of $400 billion. >> not necessarily. >> it would have a very negative effect on the economy. according to the legislation they would,...
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Nov 30, 2012
11/12
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it will fix the problem and the deficit problem as long as everything in the fiscal cliff happens. as long as sequestration happens it will hurt defense. tax rate goes up. eventually you will get someone out, to get that president out and get president who wants lower tax rates and congress that wants the lower tax rate and maybe a senate. it would hurt dramatically. best time to do it is now. >> andrea: there are two schools of thought here. one if you follow twitter or watch republicans who are on the pundit circle, they say let them go off cliff and let obama own that. there is another one that says just let him have what he wants and then when the economy nose dives he will have to own it. republicans are going to get blamed anyway. do you feel strong about either one of those? >> dana: not necessarily. i do think i see in "washington post," headline, obama offers plan for cliff. plan to be in quotes. the thing that amazes me and the media lets it happen. for eight years or longer now. i had to defend how many times people said on the left, including president obama when he was
it will fix the problem and the deficit problem as long as everything in the fiscal cliff happens. as long as sequestration happens it will hurt defense. tax rate goes up. eventually you will get someone out, to get that president out and get president who wants lower tax rates and congress that wants the lower tax rate and maybe a senate. it would hurt dramatically. best time to do it is now. >> andrea: there are two schools of thought here. one if you follow twitter or watch republicans...
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Dec 5, 2012
12/12
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fortunate americans and others to avoid the fiscal cliff between now and december 31st but take what we agree on which is that the middle class tax cuts should be extended and tax rates should not go up for the middle class, let's do that now. the republicans refuse to do that thus far, which is sort of baffling. even some of their senior members like tom cole from oklahoma have said let's take that deal, but let's pass the tax cuts for the middle class and we're talking about making sure that tax rates for 98% of all americans and 97% of all businesses. it's a small percentage of individuals that make more than $250,000 a year that tax rates would go up just a little bit. we had an election, thomas, where americans had a clear choice and they chose and we need to make sure that we think a balanced approach that is fair, that doesn't throw the middle class under the bus and that works mathematically. so far what we've seen from republicans in the house does not work in terms of reducing the deficit. >> congresswoman, we are watching the president on our screen at the business roundta
fortunate americans and others to avoid the fiscal cliff between now and december 31st but take what we agree on which is that the middle class tax cuts should be extended and tax rates should not go up for the middle class, let's do that now. the republicans refuse to do that thus far, which is sort of baffling. even some of their senior members like tom cole from oklahoma have said let's take that deal, but let's pass the tax cuts for the middle class and we're talking about making sure that...
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Aug 30, 2012
08/12
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cliff approaches with tax rates in 2013, what they will be? >> i do think so. you know, certainly there are a lot of companies that have a tremendous amount of cash on the balance sheet and are generating free cash flow that they have no use for, so that's certainly true of a lot of technology companies and i would like to think they would take this increase in taxes as a somewhat of a push to pay out a special dividend. >> let me commit michelle's question another way. your mandate is to invest in dividend and income stocks so you're in the market all the time. it's a matter of fact for you, what you do as a living. what have you seen from nontraditional yield buyers in terms of sectors as you look out across your whole landscape? >> the most interest from -- >> nontraditional yield buyers that are going after that safety trade. >> i think for one thing, i am looking for total return. so it's not giving up total return for a dividend. and for individuals who are looking for a total return who have not usually gone to look for yield, you know,
cliff approaches with tax rates in 2013, what they will be? >> i do think so. you know, certainly there are a lot of companies that have a tremendous amount of cash on the balance sheet and are generating free cash flow that they have no use for, so that's certainly true of a lot of technology companies and i would like to think they would take this increase in taxes as a somewhat of a push to pay out a special dividend. >> let me commit michelle's question another way. your mandate...
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Jul 19, 2012
07/12
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i think after we get through this earnings season, and a few excuses about fiscal cliffs, i think it will be euro zone headlines. it's a great thing to get me into a position, maybe it will cause short term downdraft, but after a few weeks, this fiscal cliff, it's not going to be a big deal. use it to trade, get in your positions. >> darrell, the fiscal cliff will not be a big deal, that's what lee says. do you buy that thought? >> the key reason we're bearish is complacency set in again. the vix consistently signalled the market top for the last three years. volatility declined, but europe is continuing to get worse, and number two you have a major head wind for the fiscal cliff looming out there. you can trade equities, but we're short because complacency is low and there are many headwinds in front of us. >> so you're expecting a selloff, how significant of a decline and where will the leadership be on the downside? >> number one, our model port foal you shorted the broad market. we think what's going to happen is there will be dollar strength that will deflate commodities, and co
i think after we get through this earnings season, and a few excuses about fiscal cliffs, i think it will be euro zone headlines. it's a great thing to get me into a position, maybe it will cause short term downdraft, but after a few weeks, this fiscal cliff, it's not going to be a big deal. use it to trade, get in your positions. >> darrell, the fiscal cliff will not be a big deal, that's what lee says. do you buy that thought? >> the key reason we're bearish is complacency set in...
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Dec 7, 2012
12/12
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he said he would rather go over the fiscal cliff than not to raise tax rates. so obama pushing higher taxes on the top 2%, not for economic reasons but for i'd logical reasons but there is also this obvious fact. obama wants to raise the top rates for political reasons. now that is he wants to force republicans to raise tacks in order to trigger a civil war within the gop and the conservative movement, and in that respect sadly obama is having some success. now so long as this debate is focused not on cutting spending but on raising daxs and revenues with the only question being which taxes, how much revenue, then obama wins. now if obama succeeds in making the argument not about his spending, but about grover norquist, he wins there, too. for republicans, on the other hand, if they can figure out a way to refocus the debate on spending, they win and the country wins. we can't kid ourselves that's correct is not easy to do. obama has the biggest microphone in the land and he also has the media in his hip pocket. all the gop has is control of the house. now it's
he said he would rather go over the fiscal cliff than not to raise tax rates. so obama pushing higher taxes on the top 2%, not for economic reasons but for i'd logical reasons but there is also this obvious fact. obama wants to raise the top rates for political reasons. now that is he wants to force republicans to raise tacks in order to trigger a civil war within the gop and the conservative movement, and in that respect sadly obama is having some success. now so long as this debate is focused...
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Nov 27, 2012
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we're all on the edge of this fiscal cliff. >> we don't think that raising tax rates is something that's good for this economy, that will help grow jobs. and so what we have said is there are ways for the federal government to have more revenue if we grow this economy and engage in tax reforms. >> every economist i respect says if you raise tax rates at this time -- in fact the president said that a couple years ago -- that it harms the economy. we're trying to help the economy. and so unless i can be convinced that raising tax rates will be beneficial, then obviously i think there's reason and grounds for my position. >> the truth is this country does not need to go through this fiscal cliff, which is fundamentally a huge tax increase and very little spending cuts. we're favoring a huge automatic tax increase that needs to be changed. >> bottom line we can't go off the fiscal cliff. democrats have harry reid. we have mitch mcconnell. get them in the room. no one gets all they want. if reagan and o'neill could do it, obama and boehner should be able to do it. >> it's the right approach,
we're all on the edge of this fiscal cliff. >> we don't think that raising tax rates is something that's good for this economy, that will help grow jobs. and so what we have said is there are ways for the federal government to have more revenue if we grow this economy and engage in tax reforms. >> every economist i respect says if you raise tax rates at this time -- in fact the president said that a couple years ago -- that it harms the economy. we're trying to help the economy. and...
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gerri: i expect you to be a little bit more upbeat about the fiscal cliff, but i have to tell you, you sound like a lot of people in washington today. concerns over whether these leaders can get together and find common ground and resolve this issue. it would be meaningful to stay like yours. governor, thank you so much for coming on. >> thank you, gerri. gerri: it's not just politicians and ceos are worried about the fiscal cliff. even baseball players are worried. this man just signed a contract with the atlanta braves. this is something that the mbl rarely does. if upton gets paid one day later, he gets paid an additional $120,000 in taxes. he is not alone. his former tampa bay teammaae, signed an extension cable next week. o can blame them? it is like a tax revolt all over the place. if washington doesn't act fast, major league owners will be forced to shell out a lot of money. gerri: it is thi nation's symbol of strength and unity in the face of tragedy. the rebuilding of one world trade center. the massive building is nearing completion. but it hasn't reached this milestone witho
gerri: i expect you to be a little bit more upbeat about the fiscal cliff, but i have to tell you, you sound like a lot of people in washington today. concerns over whether these leaders can get together and find common ground and resolve this issue. it would be meaningful to stay like yours. governor, thank you so much for coming on. >> thank you, gerri. gerri: it's not just politicians and ceos are worried about the fiscal cliff. even baseball players are worried. this man just signed a...
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Nov 29, 2012
11/12
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turn to the fiscal cliff, i know you don't want to get clinical or partisan, or even talk about this ridiculous phrase "fiscal cliff," just in your dealings with the financial issues for the last 30 or 40 years, what is your view about taxation, generally. doesn't america suffer when taxes are slightly higher in terms of economic prosperity? or is that just a bit of a myth? >> well, i think there are a lot of theories running around out there. and i have the formal education, and finance degree so i studied economics like a lot of us did. i was formally taught, the proper way is that way. that seems to be the direction of the obama administration, the idea to raise taxes. and the government control the reinvestment interest the economy. really, there is not much evidence that that has worked. it didn't work under obama or bush, even an argument it didn't work under fdr, which is where it came from. that probably world war ii bailed us out of the economic slump, probably called the great depression, rather than that. i am a sophisticated guy, i don't have a lot of sophisticated looks
turn to the fiscal cliff, i know you don't want to get clinical or partisan, or even talk about this ridiculous phrase "fiscal cliff," just in your dealings with the financial issues for the last 30 or 40 years, what is your view about taxation, generally. doesn't america suffer when taxes are slightly higher in terms of economic prosperity? or is that just a bit of a myth? >> well, i think there are a lot of theories running around out there. and i have the formal education,...
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. >> to go over this fiscal cliff because republicans won't raise tax rates on the wealthiest 2% of american would subject the average american to big tax increase and enormous damage from the other cuts that would happen. there is no reason why the country has to go through that. bill: the focus is all on taxes and tax rates and not on spending. how can you be serious when you want to raise $1.6 trillion in taxes at a time when growth is around 2? >> that's the point i was making. they complain about want to go cut spending but they made no offer to cut spending. when the president talked about cutting spending, when they talk about defense spending what happens? they attack him. for the entire campaign all we heard about was how obama wanted to cut medicare. so which is it? i it he cut too much or he doesn't cut anything? and where is there offer? if they say they are the party of cutting spending stop talking about the democrats, make an offer. >> mitch mcconnell is out there every single day saying these are the entitlement changes that i think make sense and would get us to a deal. rais
. >> to go over this fiscal cliff because republicans won't raise tax rates on the wealthiest 2% of american would subject the average american to big tax increase and enormous damage from the other cuts that would happen. there is no reason why the country has to go through that. bill: the focus is all on taxes and tax rates and not on spending. how can you be serious when you want to raise $1.6 trillion in taxes at a time when growth is around 2? >> that's the point i was making....
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says they're 68% on if fiscal cliff, but clarence page, you covered congress. you covered the hill in washington for some time better than -- >> long time, yeah. >> better than most that i've known. have you ever seen a congress like this? and do you think that it is that they are so etiological? >> on the republican side, you'll have a lot of tea party folks and others who are worried about being challenged in primaries coming up in 2014. and they don't produce anything, that's fine. the more they block things, the better. and especially when it comes to anything involving raising taxes. they don't want to raise any taxes because they can see the attack ads already. and they're districts, i'm talking about in the house, in particular. you've got districts that have been carved. there's only half a dozen republicans in the house. i think that's mentioned in the article. there's only about six republicans in the house that are in districts that are friendly to democrats. the rest are pretty solidly republican districts and they don't lose any points by holding t
says they're 68% on if fiscal cliff, but clarence page, you covered congress. you covered the hill in washington for some time better than -- >> long time, yeah. >> better than most that i've known. have you ever seen a congress like this? and do you think that it is that they are so etiological? >> on the republican side, you'll have a lot of tea party folks and others who are worried about being challenged in primaries coming up in 2014. and they don't produce anything,...
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Dec 17, 2012
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the fiscal cliff negotiations seem small, petty and resolvable. >> and very solvable. in fact, you have seen big concessions -- >> all of a sudden this thing -- >> including, including raising the debt limit, raising the top rate on people with -- you can see where the compromise is. that's right. and how could we justify not coming -- >> having this conversation. >> -- this argument -- yeah. yeah. >> the question is does it last after the new year. >> there is clear public -- public opinion is behind it. people are behind it. this is the right moment. >> problem is, public opinion in general and public opinion in the republican congressional districts which is a different america. thank you all. thank you for the discussion. we'll be live in newtown, connecticut after the break. loc. no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to s
the fiscal cliff negotiations seem small, petty and resolvable. >> and very solvable. in fact, you have seen big concessions -- >> all of a sudden this thing -- >> including, including raising the debt limit, raising the top rate on people with -- you can see where the compromise is. that's right. and how could we justify not coming -- >> having this conversation. >> -- this argument -- yeah. yeah. >> the question is does it last after the new year. >>...
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Jul 10, 2012
07/12
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. >> we've got the fiscal cliff coming at the end of the year. what we ought to be doing is extend the current tax rates for another year with a hard requirement to get through comprehensive tax reform one more time. >> oddly enough, steve, he wants to do exactly what he's proposed doing in the past, which is why don't we extend the current tax rates, otherwise known as the bush tax cuts. >> right. when comprehensive tax reform drags out or hits a dead end, we say, oh, no, we can't let these things expire. i think it's worth putting in perspective. you understand this. what obama is trying to pull off here, it's been 22 years, 1990 since a single republican in the house or senate signed off on aan income tax increase. the last time it happened was 1990 and it caused a rebellion in the republican party and it led to pat buchanan challenging george bush and newt gingrich's rise and all these things. we come to a moment here after the election. let's say obama gets re-elected, republicans have to choose. they still control the house no matter what i
. >> we've got the fiscal cliff coming at the end of the year. what we ought to be doing is extend the current tax rates for another year with a hard requirement to get through comprehensive tax reform one more time. >> oddly enough, steve, he wants to do exactly what he's proposed doing in the past, which is why don't we extend the current tax rates, otherwise known as the bush tax cuts. >> right. when comprehensive tax reform drags out or hits a dead end, we say, oh, no, we...
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Aug 22, 2012
08/12
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cliff could be avoided. if house republicans join democrats in extending the current tax rate for middle class saying they are willing to hold the middle class hostage until we give tax cut to millionaires and billionaires. tax cuts we can't afford. republican mitt romney wants all the bush tax rate extented and charge, "today's cbo report is another indictment of president obama economic policies that resulted in overspending, increasing debt and growing financial burden on the next generation. just one day after vice president biden declared the middle class is coming back. >> they have been ravaged, they have been ravaged. but they're starting to come back. we helped them keep their homes a their healthcare. >> reporter: talk of a comeback may be dampened by the federal reserve. newly released minutes from the recent minute show many fed officials think action will be needed fairly soon until incoming information points to a substantial and sustainable strengthening in the pace of the economic recovery. t
cliff could be avoided. if house republicans join democrats in extending the current tax rate for middle class saying they are willing to hold the middle class hostage until we give tax cut to millionaires and billionaires. tax cuts we can't afford. republican mitt romney wants all the bush tax rate extented and charge, "today's cbo report is another indictment of president obama economic policies that resulted in overspending, increasing debt and growing financial burden on the next...
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if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy. >> all right. it appears the very definition of the american dream is now being rewritten by president barack obama. now, today our commander-in-chief publicly said he's not going to play games with the fiscal cliff, but that is just not reality. right now the president is playing a very dangerous game of chicken and this is with your paycheck and the american dream. meanwhile, the republicans have allowed themselves to get caught in a circular firing squad. they're negotiating publicly among themselves while true conservatives and tea party members are being removed from key committees. today speaker john boehner adopted the president's class wawarfare rhetoric. shocking? watch this. >> we've got to cut spending, and i believe it's appropriate to put revenues on the table. now, the revenues we're putting on the table are going to come from, guess who, the ric
if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy. >> all right. it appears the very definition of the american dream is now being rewritten by president barack obama. now, today our commander-in-chief publicly said he's not going to play games with the fiscal cliff, but that is just not reality. right now the...
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Nov 28, 2012
11/12
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more on the fiscal cliff as americans on all levels have to prepare to take the tax hit. i hope it doesn't, but i'm going to break it down next. ♪ [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the rit attorney to help guie you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, a legal plan attorney is available with every personalized docunt tanswer any questions. get started at legalzoom.com today. and now you're protected. get started at legalzoom.com today. why they have a raise your rate cd. toght our guest, thomas sargent. nobel laureate in economics, and one of the most cited economisists in the world. what cd rates will be in two years? no. if he can't, no one can. that's why ally has a
more on the fiscal cliff as americans on all levels have to prepare to take the tax hit. i hope it doesn't, but i'm going to break it down next. ♪ [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the rit attorney to help guie you along, answer any...
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the fiscal cliff already taking its toll. rich homeowners in the pants hamptons. millionaires are dumping digs at discount prices before capital-gains tax rates are expected to jump january 1st. for more let's bring in real estate mogul barbara corcoran, founder of the corcoran group. welcome back to the show. >> thank you, gerri. gerri: always great to have you here. do you think people out there dumping properties in advance of december 31st? >> first off, they don't have very much time left. it usually takes more than two or three weeks to sell a house. what is more the truth people are using it as excuse. i will get a great deal on my house only if you close by december 31st. doesn't really happen. gerri: it is a good negotiating tool. >> it is a good little trick a3 million house selling to a guy with $3 million to spend. guess what? he will not fall for a trick like that. -phe will negotiate hard like he always does. gerri: talk about one of those issues that has been at the margins of the conversation on the fiscal cliff. do we get rid of the mortgage deduc
the fiscal cliff already taking its toll. rich homeowners in the pants hamptons. millionaires are dumping digs at discount prices before capital-gains tax rates are expected to jump january 1st. for more let's bring in real estate mogul barbara corcoran, founder of the corcoran group. welcome back to the show. >> thank you, gerri. gerri: always great to have you here. do you think people out there dumping properties in advance of december 31st? >> first off, they don't have very...
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Dec 2, 2012
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. >> secretary geithner says he cannot promise we will not go off the fiscal cliff. speaker boehner says he is going to do everything we can to avoid the cliff. but acknowledged there is a chance he canal stop it. jamie? >> eric: peter doocy comprehensive report. >> jamie: thank you. >> eric: president obama hit the road on friday to try to sell his plan to the american people. but is that his -- is that what needed to make a deal? bring in max schlapp, political director under president bush. former democratic congressman from texas, martin frost. matt and martin, welcome sunday morning. good to see you. matt, let me start with you. what do they need, because they are not there now, to get to the point they need to make a deal? >> they have time to pull a deal together. the real concern here is that president obama is drawing lines in the sand. some of the lines might not be able to be crossed by the republicans. that gets people increasingly worried that an overall deal can't be reached. hard to imagine in the short-term before cliff by the end of the year, they ca
. >> secretary geithner says he cannot promise we will not go off the fiscal cliff. speaker boehner says he is going to do everything we can to avoid the cliff. but acknowledged there is a chance he canal stop it. jamie? >> eric: peter doocy comprehensive report. >> jamie: thank you. >> eric: president obama hit the road on friday to try to sell his plan to the american people. but is that his -- is that what needed to make a deal? bring in max schlapp, political...
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Nov 18, 2012
11/12
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how optimistic are you that they make a deal and avert the fiscal cliff? >> let's hope they do but they will burn bill kristol's tea party card to hear him talk like this. off the reservation. >> a lot of tea party don't care that much if millionaires pay a couple more in taxes honestly. >> chris: you are optimistic? >> you have to be. if this isn't fixed we vehicle a global catastrophe. >> chris: on that happy note, thank you, panel. see you next week. wouldn't it be good for sunday sunday. check out the panel plus where the group picks up with the discussion on our website. foxnewssunday.com. we will post a video before noon eastern time. mange sure to follow us on twitter -- make sure to follow us on twitter. @foxnewssunday. up next, the power player of the week. ♪ [ male announcer ] it started long ago. the joy of giving something everything you've got. it takes passion. and it's not letting up anytime soon. at unitedhealthcare insurance company, we understand that commitment. and always have. so does aarp, an organization serving the needs of americ
how optimistic are you that they make a deal and avert the fiscal cliff? >> let's hope they do but they will burn bill kristol's tea party card to hear him talk like this. off the reservation. >> a lot of tea party don't care that much if millionaires pay a couple more in taxes honestly. >> chris: you are optimistic? >> you have to be. if this isn't fixed we vehicle a global catastrophe. >> chris: on that happy note, thank you, panel. see you next week. wouldn't it...
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Dec 28, 2012
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>>> what does sex have in common with the fiscal cliff? i'm now for the sidebar. america's most famous sex therapist is weighing in on the stalled attacks. here's her take on this. members of congress who can't compromise probably aren't good lovers, sex requires give and take. allen west is one of hose members at least for the next few days. it is month surprise the republican from florida is criticizing the president. >> what the president is propose sing not rag mattic and it is a reflection of him living in some type of fantasy world. >> don't expect to see michelle obama's name on ballot any time soon. at least not according to david axelrod. >> you know, i think she sees her role much more as a private role. she's done a wonderful job with her kids. she will find ways to make contributions, i'm sure, but the last thing i think she would do is run for public office. >> the white house is getting flooded with requests to legally recognize the baptist church as a hate group. we the people petition already has more than 288,000 signatures. the kansas based group
>>> what does sex have in common with the fiscal cliff? i'm now for the sidebar. america's most famous sex therapist is weighing in on the stalled attacks. here's her take on this. members of congress who can't compromise probably aren't good lovers, sex requires give and take. allen west is one of hose members at least for the next few days. it is month surprise the republican from florida is criticizing the president. >> what the president is propose sing not rag mattic and it...
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Sep 28, 2012
09/12
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the ratings agency fitch said today uncertainty about u.s. fiscal policy is the single biggest near-term threat to the global recovery. when you see washington act the way it's been acting, does it make you more cautious? hr of course. >> reporter: bayard winthrop launched american giant, a new men's clothing business in san francisco this year. but the indecision in washington, he says, is holding him back. >> it doesn't breed a lot of optimism. so we're hiring, but we're not hiring as aggressively as i think we would be if i had real confidence that we were on a pathway towards growth nationally. >> reporter: so in effect, washington is undermining the ionomy. >> i think that the lack of substantial and positive debate is undermining the economy. >> reporter: one piece of good news today, weekly first-time unemployment claims dropped to a two-month low. bor the labor department says the economy actually added nearly 400,000 more jobs over the past year than originally estimated. w pelley: well, anthony, there's still about 12.5 million peop
the ratings agency fitch said today uncertainty about u.s. fiscal policy is the single biggest near-term threat to the global recovery. when you see washington act the way it's been acting, does it make you more cautious? hr of course. >> reporter: bayard winthrop launched american giant, a new men's clothing business in san francisco this year. but the indecision in washington, he says, is holding him back. >> it doesn't breed a lot of optimism. so we're hiring, but we're not...
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Dec 30, 2012
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cliff, this is just the start of a long set of unpleasant negotiations. good to see you, gentlemen. >> thank you. >>> coming up, with just under 30 hours to go before the country goes over the fiscal cliff, we'll talk to senator bernie sanders of vermont. where he thinks we're going next. >>> and coming up, david gregory's interview with president obama on "meet the press." our special coverage will continue after this. ♪ [ male announcer ] it started long ago. the joy of giving something everything you've got. it takes passion. and it's not letting up anytime soon. at unitedhealthcare insurance company, we understand that commitment. and always have. so does aarp, an organization serving the needs of americans 50 and over for generations. so it's no surprise millions have chosen an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they help cover some of the expenses medicare doesn't pay. and save you up to thousands in out-of-pocket costs. to find out more, request
cliff, this is just the start of a long set of unpleasant negotiations. good to see you, gentlemen. >> thank you. >>> coming up, with just under 30 hours to go before the country goes over the fiscal cliff, we'll talk to senator bernie sanders of vermont. where he thinks we're going next. >>> and coming up, david gregory's interview with president obama on "meet the press." our special coverage will continue after this. ♪ [ male announcer ] it started long...
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Nov 27, 2012
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will you say if you're willing to break that pledge in order to save the country from the fiscal cliff. >> hello, thomas. and first of all, i signed that pledge two years ago, and the reason i signed it is because i think increasing tax rates, increasing the amount of money that the federal government takes away from job creators is going to harm economic growth and economic growth is the number one component to a solution. what all these senators are saying is they'll take a look at their pledge only if the president puts forward his plan. how is he going to close the other part of that deficit? you know, his proposal right now, the most he can say would raise would be about $68 billion when our deficit last year was $90 billion. what is the president's plan for closing the additional additional $1 trillion worth of deficit? i think that's incumbent on the president to put forward his plan. >> from your standpoint alone, there's no way you see fit in the coming 35 days that you would break that pledge with glove norquist. >> well, thomas, let's use a couple numbers here. even with thi
will you say if you're willing to break that pledge in order to save the country from the fiscal cliff. >> hello, thomas. and first of all, i signed that pledge two years ago, and the reason i signed it is because i think increasing tax rates, increasing the amount of money that the federal government takes away from job creators is going to harm economic growth and economic growth is the number one component to a solution. what all these senators are saying is they'll take a look at...
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all the expiring policies known as the fiscal cliff, rich. >> wall street didn't like something today. >> it was better than expected. first the stocks went higher and then they went south. they blame the costs of hurricane sandy and the dow drops 140, the s&p 13 and phase back 38. >>. >> the president and gov. romney that different reaction to the jobs numbers. we will check in with each campaign as it battles for one of the biggest swing states on the map with now four days to go. from the journalist of fox news, this is the friday fox report. it's led and it has great picture quality. i don't know... it's ultralim... maybe next year. you cod always put it on layaway and pay a little at a time. alright. we'll take it! ah! i love you! hmm! ahem. football. [ male announcer ] shop now. get the hottest brands on your list today... like the lg 55 inch led tv. and put it on layaway now so you have more time to pay. walmart. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, children laughing ] move
all the expiring policies known as the fiscal cliff, rich. >> wall street didn't like something today. >> it was better than expected. first the stocks went higher and then they went south. they blame the costs of hurricane sandy and the dow drops 140, the s&p 13 and phase back 38. >>. >> the president and gov. romney that different reaction to the jobs numbers. we will check in with each campaign as it battles for one of the biggest swing states on the map with now...
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the new york democratic senator says it is very crucial that washington, dc, avoid a fiscal cliff by get back did work. if it take as lamb duck congress to hammer a way out of the expires tax rates and budget cuts, hop on to it. and a republican senator agrees with that. what is the right deal for you? >> not the direction that senator schumer is talking about chuck schumer has carved out a place for himself well outside the main stream arguing that this is no scenario where we can lower the marginal rates which is inconsistent with what every bipartisan group has looked at to addressing our budget problem on the tax side. the rational thing to do is to have a more pro growth sensible tax policy with lower marginal rates and offset the lost revenue by squeezing the value of deductions and write offs and loopholes. that is the way to generate revenue. to keep marginal rates as he has advocated, even, to raise them above where they, that is counterproductive for economic growth. >>neil: he is talking about letting the bush rates expire for the richest. you argue this is not the time to
the new york democratic senator says it is very crucial that washington, dc, avoid a fiscal cliff by get back did work. if it take as lamb duck congress to hammer a way out of the expires tax rates and budget cuts, hop on to it. and a republican senator agrees with that. what is the right deal for you? >> not the direction that senator schumer is talking about chuck schumer has carved out a place for himself well outside the main stream arguing that this is no scenario where we can lower...
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the "news nation" is following where things regard right now with the fiscal cliff and there's hot rhetoric to go around. >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue. >> in order for us to raise the amount of revenue that's needed just by closing deductions and loopholes for high earners we'd have to, for example, eliminate or severely cap the char itible deduction. >> an obsession to raise taxes not going to solve the problem. what will solve the problem is doing something about the entitlements, taking on the wasteful spending in washington. >> and meantime, "the new york times" jonathan wiseman reports behind the scene republican leaders are considering the president's plan to extend middle class tax cuts now an address the debt and spending in the new year. here's republican senator tom coburn on "morning joe." >> actually, i would rather see the rates go up than the other way and greater chance to broaden the base in the future. >> do something, a down payment
the "news nation" is following where things regard right now with the fiscal cliff and there's hot rhetoric to go around. >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue. >> in order for us to raise the amount of revenue that's needed just by closing deductions and loopholes for high earners we'd have to, for example, eliminate or severely cap the...